CoinScoopUS Treasury Sanctions A7 Shadow Banking Network Linked to Russia and Iran
On October 1, 2026, the US Treasury Department launched 'Operation Economic Outcast' to sanction the A7 shadow banking network, which has been used by Iran to evade sanctions. OFAC designated A7 as a transnational criminal organization, while FinCEN proposed rules to prohibit US financial institutions from processing transfers linked to the network's shell companies. FinCEN confirmed that the network processed over $17 billion in transactions between January 2025 and June 2026.
Summaries are written by AI from the original article. Not investment advice.